Sandy knocks home values down $45K

5:46 PM,
Mar. 18, 2013

Written by

Michael Symons
| @MichaelSymons_

New Jersey homes damaged by superstorm Sandy lost an average of nearly $45,000 of value, wiping away nearly $1 billion of property wealth and raising the prospect that the burden for shouldering local tax levies may be shifted to residents whose homes weren't directly damaged.

The state's home-value survey was referenced in the "action plan" Gov. Chris Christie's administration filed last Tuesday with the federal government for how it plans to spend the $1.83 billion in block-grant funds. That money is being provided by the U.S. Department of Housing and Urban Development to assist in ...